The Trend: EP2 -- Managing Ourselves
Welcome back yall!
Today on The Trend we talk about the unknown direction of BTC. It's a challenge to call a move upward, or downward with long term trends crashing one another. What usually gives it away? VOLUME. There is no volume in sight. We have to wait untill we see some volume to have conviction in the next move. Later today - or possibly tomorrow we're going to create one of the most important pivots we've had since the 15-17k retests.
These are the times we have to manage ourselves. These are the times we have to have the discipline to set stop-limit's and protect ourselves from price-action that could empty our wallets. This is not the time to get hopped up on a new indicator, and think we know whats going to happen in a market which is running so cold, for so long, with little volume. Lets take some solace in what we DO know:
Now some last minute things. Last night I had a moderator who was nice enough to point out that I don't need to create a second idea for you to "Make it mine" on my chart! Apparently that works on the video too! So if you want to steal the chart from this video and muck it up yourself, simply click the "share" button on the bottom right of the video, and choose "Make it Mine" on the window which pulls up afterwards. If you have questions, challenges, or ideas you want to show off relating to this episode of The Trend I would like to encourage you use that feature.
I appreciate everyones support, and thank you for all the kind reviews so far!
Today on The Trend we talk about the unknown direction of BTC. It's a challenge to call a move upward, or downward with long term trends crashing one another. What usually gives it away? VOLUME. There is no volume in sight. We have to wait untill we see some volume to have conviction in the next move. Later today - or possibly tomorrow we're going to create one of the most important pivots we've had since the 15-17k retests.
These are the times we have to manage ourselves. These are the times we have to have the discipline to set stop-limit's and protect ourselves from price-action that could empty our wallets. This is not the time to get hopped up on a new indicator, and think we know whats going to happen in a market which is running so cold, for so long, with little volume. Lets take some solace in what we DO know:
- There is a giant sum of money on the sideline
- There is a ton of capital in Alts which left BTC earlier this month - ripe to come back
- The mining difficulty has not gone down, indicating sentiment that BTC is not dying
- Talk, chatter, and new analysts are picking up BTC daily! This is not a market losing favor!
Now some last minute things. Last night I had a moderator who was nice enough to point out that I don't need to create a second idea for you to "Make it mine" on my chart! Apparently that works on the video too! So if you want to steal the chart from this video and muck it up yourself, simply click the "share" button on the bottom right of the video, and choose "Make it Mine" on the window which pulls up afterwards. If you have questions, challenges, or ideas you want to show off relating to this episode of The Trend I would like to encourage you use that feature.
I appreciate everyones support, and thank you for all the kind reviews so far!
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